condominium

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condominium

Politics
1. joint rule or sovereignty
2. a country ruled by two or more foreign powers

Condominium

An apartment house, office building or other multiple-unit complex; the units are individually owned, and there is joint ownership of common elements such as hallways, elevators, and all mechanical systems.

Condominium

 

according to states’ law, a joint ownership, that is, joint sovereignty over a territory by two or more states. Historically, the condominium was established to eliminate conflicts between states laying claim to one and the same territory. For instance, according to an act of the Congress of Vienna of 1814–15 and of a special treaty in 1816, a condominium was established over Moresnet, since Prussia and Belgium could not agree on the frontier of this borderland between them. Andorra and several islands in the Bidassoa River are condominiums of France and Spain. A condominium may also be established over expanses of water (for example, the condominium over the Gulf of Fonseca and the Gulf of San Juan).

A condominium should be distinguished from a coimperium —a joint rule over an alien territory (for example, the joint rule of Great Britain, France, and Spain over Tangier in the 20th century).

condominium

A form of real estate ownership of a multifamily residential dwelling. Each occupant has 100% ownership of his own apartment and partial ownership of common elements such as hallways, elevators, plumbing, etc. Also see cooperative.
References in periodicals archive ?
The Massachusetts Appeals Court recently issued a decision essentially nullifying the economic loss rule in claims by condominium associations against condominium developers, despite well-settled precedent that the economic loss rule applies to such claims.
More generally, when Louisiana courts determine whether a condominium association or a unit owner has a particular power or duty, (4) they strictly interpret the powers and duties of condominium associations and unit owners under the Louisiana Condominium Act (the "LCA") and a condominium association's condominium documents.
As an alternative, the condominium association proposed replacing the slate tiles with a new synthetic slate shingles that look like the real thing.
"Stillman made our contract negotiations painless and offered suggestions that benefited our association, a major advantage of working with an experienced management company," said Susan Hoehl, a Fountain Terrace Condominium Association representative.
The above advantages and disadvantages may seem contradictory with respect to the acquirer's ability to control the board of directors of the condominium association. This is the area of most confusion regarding successor developer status, which will be explored in some detail in the subsequent discussion.
However, a condominium association cannot merely adopt a neutral policy and proceed to apply it mechanically to everyone.
Determining whether the condominium association or the master association is responsible for the pond should be relatively straightforward, based on the governing documents/plats of survey for each association.
In the parlance of condominiums, the nuclear option is triggered when a condominium association - which has tried every method available to collect overdue monthly condo dues - forecloses on one of their own members.
We have retrofitted some of the buildings like Ocean Palms in Hollywood and our program has helped the condominium association to reduce their energy bills by almost 25- 30 % with Zero out of pocket.
Dorine Neal, president of the 96-unit Circle Villa Condominium Association in Lauderhill, said there are at least several unit-owner squatters and a rental squatter in her complex, and that the numbers are growing.
He is a trustee of Congregation Rodeph Sholom, a member of the Real Estate Board of New York, president of Beach House Condominium Association and a former director of the Associated Hotel and Motels.
Now in its 10th edition, completely updated and cross-referenced not only to the Florida Statutes and the Administrative Code but also to Florida appellate court decisions, The Condominium Concept is a guide for operating a successful Florida condominium association. Written in clear, concise language, it is a working tool for officers, directors, homeowners, managers, realtors, and attorneys.